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Digital technologies are dramatically shaping verticals across industries. 2020 has seen more digital transformation than the whole decade, and 2021 is going to see the best of digital transformation technologies and their integration into business processes by organizations of all sizes. Digital transformation (DT or DX) is used by the organizations to differentiating ways of doing business to drive growth. It involves the realignment of technology to help organizations compete in the ever-changing digital technology. In large-scale change efforts, change takes place at all levels in an organization.
Business processes are created over time and often have activities that are time-consuming and redundant. Digitization simplifies such acts, makes them swift and maximizes the return on investment (ROI). This reduces certain operating costs associated with complex and time-consuming workflows. Communication and analytics become strong, so more appealing products can be provided to the consumers.
Data-driven insights for enhanced customer experience
Digital transformation brings multi-faceted benefits to a business by removing in competencies. In the markets occupied with too-much-similar products, differentiating only on the basis of offerings is difficult. Customer experience is the area that provides plenty of space for definitive differentiation. Digitization helps in enhancing customer experience through real-time communication with customers. Companies at the forefront of digital transformation will earn trust and respect from customers. It begins and ends with how a business perceives about customers and engages with them. Data-driven insights help understand customer behavior patterns and enable seamless multi-point customer journeys with hyper-personalization and relevancy.
Digital transformation has a wide-ranging impact on the business environment, creating both opportunities and challenges. It provides a way of changing how a business functions and delivers value to the customers. It requires an examination and reinvention of most areas within an organization, fosters cultural change and empowers the employees with first-hand tools and methodologies to create data-driven strategies.
Prime mover for smooth collaboration
As digitalization makes it easy to access the right information at the right time, the work environment becomes less siloed and hierarchical. It turns out to be the prime mover for smooth collaboration. Customer Relationship Management (CRM) technologies can track historical client data related to interactions, engagements and interests to help serve them better.
In a world where supply chain risk is on top of the mind of the business owners, key digital technologies such as artificial intelligence (AI), internet of things (IoT) and advanced analytics have seen groundbreaking applications throughout the entire value chain. Cloud-native technologies are instrumental to any digital transformation initiative.
Agile systems for anytime, anywhere access
The experience of customers is at the heart of digital. As a result, the focus of any digital transformation strategy remains on providing valuable solutions to the problems and improving the customer experience. Moreover, with the majority of workforce working full time from homes, there will be an increasing focus on social media and video conferencing capabilities.
Data analytics is a good place to start with any transformation. COVID-19 pandemic has only strengthened the need for agile systems available from anywhere. Analysts who can document the current workflow of data and operations, and design a new workflow based on remote collaboration tools will be high in demand as they can free the company from sharing the physical space and even the same time zone to deliver.
Tackling the issue of bad data
Bad data already costs a lot to organizations in terms of maintenance and security. Customer Data Platforms or CDPs are already used by companies for good reasons. New CDPs will provide well-curated data to operate optimally and offer a 360-degree view of the customers. CDPs are going to become more relevant in the coming year, thanks to their capability to accelerate data collection across an ever-expanding ecosystem of customer touchpoints.
PaaS, XaaS and AIaaS
While Platform-as-a-Service (PaaS) provides some great benefits, the Database Admins will still be required in 2021 to drive efficiencies in performance and availability. As-a-service (aaS) has already become the standard in the digital-native enterprise. The new model in aaS would be everything-as-a-service or XaaS where technologies such as IoT and AI will play a crucial part in expanding existing services where services will dwell on the cloud with virtual access to nearly everything. AlaaS or artificial intelligence as-a-service will provide a new line of service to the customers with cognitive computing, machine learning, digital assistants and business intelligence.
Headless tech to separate frontend and backend
Cloud is already adopted by most organizations to create seamless business continuity and speed up go-to-market efforts. Confidential computing will gain momentum in 2021 that encrypts the entire computing process, not just the data. It creates an additional layer of security around sensitive information. Businesses will be able to isolate their front-end presentation layer from the back-end data functionality with the help of headless tech.
API-first approach to building resilient operations
APIs will assist organizations with lessening data silos and make collaborative experiences. There will be an increased focus on digital transformation in 2021, with a specific focus on building resilient operations, data-driven decision making, and digitizing core processes. API-first data-driven strategies will lead the investment areas in the next year. The API-first strategy includes defining internal and external APIs and augmenting microservices for better integration between multiple organizations. The solution delivery architects that can introduce a technology vision that align with transformational solutions will play a key role in digital transformation challenges beyond 2020.
The accelerated growth in predictive analytics that helps in determining the most effective response to a trend, and prescriptive analytics that determines optimal decisions to deal with disruptive trends will represent the key digital transformation for success in 2021.
Are you ready for digital maturity?
Digital transformation goes beyond than just updating technology and processes, it also involves revenue and shareholders. When done strategically,, it can improve stock prices and revenue in the long run. Digital transformation holds the promise of improving productivity and performance by reducing the cost of business processes. It provides avenues for insights in customer journeys and efficiency gains. The process requires the alignment of current organizational practices to be flawless, else these flaws will only magnify. Being a leading digital transformation company with extensive expertise in digital transformation technologies, Flexsin Technologies can help you develop a strategy to help your organization achieve efficiency with specific tools and ensure sustainable commercial success.
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